Orchard Bank/HSBC Card Services
Increasing Rate of Intrest

I arrived home today only to receive a Notice Of Change In Terms. It appears that on January 1st they will raise intrest on all balances on my account will be raised to approximately another. 03% to the already high rate of over. 04% APR per billing cycle.

This account has, since its inception, been either paid in full each month several days before it is due or a large amount ($60.00 or more) has been sent long before the due date. This account has a credit limit of $300.00 which has never been raised.

The reward this company gives you after leading you to believe that they can help in the rebuilding of credit is a falsehood. The only people they are helping is themselves to your money. They claim this decision is based on a credit report in whole or in part. Well my credit report is no worst today than when the card was issued.in fact it is better as my other credit card has raised my credit limit $500.00 within 1yr of opening the account.

My complaint is why are companies of this nature allowed to conduct business by false, misleading statements of improving bad credit when knowing full well it does no good what so ever. Charging illegal fees, raising intrest rates to almost state usuary laws and trying to 'break yor back' all in your best intrest.

My advice is to sweat it out and deal only with your local credit union or bank. Hopefully I can be of some help to bring companies like this to some justice.

Company: Orchard Bank/HSBC Card Services
Country: USA
State: California
City: Salinas
Address: P.O Box 80084
Phone: 5032934037

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